EBRD: Russian banking reforms not enough

Russia has been slow in reforming its banking system and a key test will be how new enforcement powers given to the central bank are used, the European Bank for Reconstruction and Development (EBRD) said in a report on Tuesday.

Commenting on the government's reform programme the EBRD said: "Banking sector reform has been the weakest element in the reform programme and a credible reform process would require both more effective prudential supervision by the central bank and a strategy for the c